Iran tells Trump: Stop tweeting, it's driving up oil prices

The price for Brent crudeoil, the global benchmark for the price of oil, was up 1.32 percent as of 9:15 a.m. EDT to $78.32 per barrel.

US President Donald Trump has been attacking OPEC for keeping oil prices artificially high - but officials in Iran insist that Trump's tweets are driving crude prices higher.

"The OPEC Monopoly must remember that gas prices are up & they are doing little to help", he wrote. If anything, they are driving prices higher as the United States defends many of their members for very little $'s. "REDUCE PRICING NOW!" he added.

When that wasn't enough to offset the threat of lost Iranian barrels, he pushed the envelope further, taking to Twitter last weekend to (literally) announce that he had called King Salman on the phone and asked for a 2 million b/d unilateral increase from the Kingdom, a move which, if implemented, would amount to Riyadh effectively going rogue (although, in an effort to stay on Trump's good side, the Saudis' allies in OPEC would likely keep their mouths shut).

OPEC together with a group of non-OPEC producers led by Russian Federation started to withhold output in 2017 to prop up the market.

China issues warning for citizens travelling to USOn July 6, tariffs on Dollars 34 billion worth of imports will take effect, and Beijing has promised to retaliate in kind. Asia was bereft of the usual leads as the USA markets were closed on Wednesday for the Independence Day holiday.

Tehran blames rising prices on USA sanctions imposed on Iran and Venezuela, founding members of the cartel.

Former Shell Oil President John Hofmeister on the outlook for oil prices.

Implied options volatility, a way of measuring uncertainty among crude oil traders and investors, is at its highest since the run-up to last month's OPEC meeting where an agreement was reached to ease output curbs in place since January 2017.

Ship brokerage Banchero Costa said Iran's crude oil production was now around 3.8 million barrels per day (bpd), but added "there is the risk of production decreasing going forward as exports are again affected by renewed sanctions implemented by the USA".

NAB said its oil price forecasts "point to Brent spending the next few months largely in the mid-to-high $70s (per barrel) range, although meaningful OPEC-Russia output increases could push prices lower later in the year and higher USA shale production should impose an upside limit on WTI".

Crude oil prices saw mixed activity today, widening the spread between WTI and Brent crude as Libya's oil production continues to suffer at the hands of the two rival NOC factions who are determined to duke it out.

Eventually, McMaster would pull aside the president and walk him through the dangers of an invasion, the official said. According to the official, the question stunned those in attendance, including former national security adviser H.R.

Mr Creigh, who was 10 years old when targeted by Fletcher, trusted that Wilson - then an assistant priest - would take action. In May, a court found he had failed to report his colleague James Patrick Fletcher's abuse of altar boys to police.

Later, when Ayesha was 8 months along, she took to Instagram Stories to share a pic of her bare baby bump. Steph's dad Dell was a longtime National Basketball Association player and Steph is a two time MVP.

Iran has called on the European countries to offer economic benefits to make up for the damage caused by new USA sanctions. There have already been calls from some Iranians for the children of the elite to be deported home.

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Last year, police are believed to have paid Dotcom a six-figure sum in a private settlement over alleged unreasonable force. The court of appeal has now upheld a lower court ruling from 2017 which found that the extradition could take place.

I just did 100-percent effort every shot, every putt and still, you know, I like looking at the positive side. "I played great. Starting the week at 82nd in the world, Woods is projected to move up to 67th, the highest he has been since early 2015.

Trump has withdrew from a 2015 multilateral nuclear deal signed by Iran and P5+1, five permanent members of UNSC plus Germany. Trump threatened in an interview that aired on Sunday to put sanctions on European companies that do business with Iran.

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